Alberta Investment Management Corp Acquires 17,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Alberta Investment Management Corp increased its holdings in Tenet Healthcare Co. (NYSE:THC) by 212.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,000 shares of the company’s stock after acquiring an additional 17,000 shares during the quarter. Alberta Investment Management Corp’s holdings in Tenet Healthcare were worth $3,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Tenet Healthcare by 88.0% during the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company’s stock valued at $1,279,855,000 after purchasing an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tenet Healthcare by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock worth $339,893,000 after acquiring an additional 390,316 shares during the period. Iron Triangle Partners LP bought a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $51,346,000. Point72 Asset Management L.P. boosted its position in shares of Tenet Healthcare by 32.0% during the third quarter. Point72 Asset Management L.P. now owns 442,949 shares of the company’s stock valued at $73,618,000 after purchasing an additional 107,290 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Tenet Healthcare by 60.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 253,931 shares of the company’s stock worth $32,054,000 after purchasing an additional 96,106 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

THC has been the topic of a number of research reports. Truist Financial dropped their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Raymond James cut shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a report on Friday, November 22nd. Barclays lowered their target price on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group downgraded Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their price target for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Wells Fargo & Company downgraded Tenet Healthcare from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $163.19.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $137.44 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm’s 50-day moving average price is $133.04 and its 200-day moving average price is $147.79. Tenet Healthcare Co. has a 52-week low of $88.98 and a 52-week high of $171.20. The company has a market cap of $13.07 billion, a PE ratio of 4.26, a PEG ratio of 1.00 and a beta of 2.05.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.